Bank AlJazira reported a net profit of SAR 865.3 million for the first nine months of 2022, a rise of 11% from SAR 777.3 million a year earlier.
The profit growth was driven by a 7% decrease in total operating expenses mainly triggered by a decline in net impairment charges for financing and other financial assets, as well as impairment charges for other real estate, in addition to depreciation and amortization expenses.
Item | 9m 2021 | 9m 2022 | Change |
---|---|---|---|
Net Special Commission Income | 1,948.97 | 2,014.31 | 3.4 % |
Operating Income | 2,652.14 | 2,622.81 | (1.1 %) |
Total Provisions | (469.22) | (236.11) | 49.7 % |
Net Income | 777.28 | 865.34 | 11.3 % |
Average Shares | 1,025.00 | 1,025.00 | - |
EPS (Riyals) | 0.76 | 0.84 | 11.3 % |
EPS Diluted (Riyals) | 0.76 | 0.81 | 6.2 % |
In Q3 2022, net profit rose 13.8% to SAR 232.7 million from SAR 204.5 million a year earlier, mainly due to a decrease in total operating expenses by 5%.
On a sequential basis, net profit dropped 9.7% from SAR 257.8 million.
Item | Q3 2021 | Q3 2022 | Change |
---|---|---|---|
Net Special Commission Income | 673.68 | 654.33 | (2.9 %) |
Operating Income | 878.26 | 881.13 | 0.3 % |
Debt Provisions | (158.46) | (102.52) | 35.3 % |
Net Income | 204.53 | 232.67 | 13.8 % |
Average Shares | 1,025.00 | 1,025.00 | - |
EPS (Riyals) | 0.20 | 0.23 | 13.8 % |
EPS Diluted (Riyal) | 0.20 | 0.22 | 12.0 % |
Item | Q2 2022 | Q3 2022 | Change |
---|---|---|---|
Net Special Commission Income | 631.38 | 654.33 | 3.6 % |
Operating Income | 806.92 | 881.13 | 9.2 % |
Debt Provisions | (39.58) | (102.52) | (159.0 %) |
Net Income | 257.82 | 232.67 | (9.8 %) |
Average Shares | 1,025.00 | 1,025.00 | - |
EPS (Riyals) | 0.25 | 0.23 | (9.8 %) |
EPS Diluted (Riyal) | 0.23 | 0.22 | (3.9 %) |
Total shareholders’ equity, no minority interest after excluding sukuk, stood at SAR 11.799 billion as of Sept. 30, 2022, compared with SAR 11.795 billion a year earlier.
Item | 9m 2021 | 9m 2022 | Change |
---|---|---|---|
Assets | 98.58 | 110.28 | 11.9 % |
Customer Deposits | 74.26 | 82.28 | 10.8 % |
Loan | 58.44 | 67.65 | 15.8 % |
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